Norwood Financial Corp Declares Significant Cash Dividend
Norwood Financial Corp Declares Cash Dividend
Norwood Financial Corp (NASDAQ: NWFL) has officially announced its decision to provide a cash dividend to its shareholders. This comes as great news to investors who have been closely monitoring the company's performance.
Details of the Dividend
The Board of Directors, led by President and CEO James O. Donnelly, has declared a cash dividend of $0.30 per share. This dividend is set to be disbursed on November 1 to all shareholders who are on record as of October 18. Notably, the amount matches the per-share dividend that was declared in the second quarter of the year, indicating consistency in the company's dividend distribution strategy. Furthermore, it represents an impressive increase of 3.5% compared to the cash dividend declared in the third quarter of the previous year.
Company's Financial Strength
Mr. Donnelly expressed pride in the company's performance, stating that the Board is delighted to offer this quarterly dividend. This reflects Norwood's strong financial health and robust capital position, reinforcing the trust that shareholders can have in its operational prowess and future growth potential.
Northern Operations and Growth
Norwood Financial Corp operates through its subsidiary, Wayne Bank, with a wide network of fifteen offices located in Northeastern Pennsylvania and fourteen additional branches in various counties across New York. As of June 30, the company reported impressive total assets amounting to $2.235 billion, alongside outstanding loans of $1.641 billion. Additionally, total deposits reached $1.811 billion while total capital stood at $182.2 million, demonstrating a solid financial foundation.
Future Outlook
As the company moves forward, it remains focused on sustaining its financial performance and exploring new growth opportunities. The declared dividend not only showcases the firm’s strong balance sheet but also signals a commitment to returning value to its shareholders.
Contact Information
For further inquiries, shareholders can reach out to:
John M. McCaffery, Executive Vice President and Chief Financial Officer
Norwood Financial Corp
Phone: (272) 304-3003
Frequently Asked Questions
What is the amount of the cash dividend declared by Norwood Financial Corp?
The cash dividend declared is $0.30 per share.
When will the dividend be paid to shareholders?
The dividend will be paid on November 1, to shareholders of record as of October 18.
How has this dividend changed compared to the previous year?
This dividend signifies a 3.5% increase over the cash dividend announced in the third quarter of the previous year.
What is the significance of this dividend announcement?
This announcement reflects the company’s financial strength and commitment to returning value to its shareholders.
What is the current asset status of Norwood Financial Corp?
Norwood Financial Corp reported total assets of $2.235 billion as of June 30.
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